The growth risks to Azerbaijan's economy are pointed 2,6% for 2025 and 3,2% for 2026, it is stated in the country report of Fitch Solutions’ (FS), belonging to Fitch Group , APA-Economics reports.
FS has raised the forecast for Azerbaijan's real GDP growth for 2027 from 3.1% to 3.2%.
It was noted that although the oil sector accounts for approximately 50% of GDP in Azerbaijan, the main driving force of economic growth in recent months has been the non-oil sector. However, there are growth risks for the Azerbaijani economy in 2025 and 2026: “The market remains heavily dependent on revenue from energy exports, which makes it susceptible to fluctuations in global oil prices and potential production disruptions. Despite efforts to diversify, the oil and gas sector still forms a substantial part of Azerbaijan's foreign trade surplus, accounting for a significant portion of exports. The volatility in global oil markets, influenced by geopolitical tensions such as regional conflicts and climate-induced supply shocks, poses a threat to the stability of Azerbaijan's economy”, FS added.
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